Farmie Z's parent, API Holdings, filed its DRHP, draft Red Herring Prospectus. It intended to make its online pharmacy public and raise about 6,250 crore rupees. But the IPO became a magnet for protests. The Confederation of All Indian Traders and South Chemist and Distributors Association made one confident claim that selling medicines online was illegal.
A few days ago the Central Drugs Standard Control Organization (CDSCO) sent out notices to 20 online pharmacies. The ones you’re probably used to buying medicines from ― Tata 1mg, Netmeds, Apollo, etc. The Chemists Association threatened to go on a strike against e-pharmacies too. And this could compel the government to take action. The reason? Flouting drug regulations.
So in today’s episode for 20th February 2023, we tell you why e-pharmacies are receiving so much flak.